FxPro Information
Founded in 2006, FxPro is a reputable UK-based broker, offering trading on forex, indices, shares, futures, energy, metals, and crypto via the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader platforms, as well as its proprietary platform, FxPro WebTrader and FxPro Mobile App. In addition to its trading services, FxPro provides clients with a comprehensive knowledge hub, which contains all kinds of educational resources, friendly for both beginners and professionals.
Is FxPro Legit?
Yes, FxPro is regulated by several reputable financial regulatory bodies in different jurisdictions where it operates. These regulatory bodies ensure that FxPro adheres to strict standards of financial stability, security, transparency, and fair trading practices.
FxPro Financial Services Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license No. 078/07 and Comisión Nacional del Mercado de valores (CNMV) with license No. 1722.
FxPro UK Limited is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, with license No. 509956.
Pros & Cons
Market Intruments
FXPro offers a diverse range of trading instruments to its clients, including forex, indices, shares, futures, energy, metals, and crypto. The broker offers over 70 currency pairs, including majors, minors, and exotic pairs, with competitive spreads starting from 0 pips. In addition, it also provides a variety of indices, such as S&P 500, NASDAQ, DAX, and FTSE 100, among others. The broker also offers commodities such as gold, silver, oil, and gas, along with futures contracts on indices, energies, and metals. Lastly, FXPro provides traders with access to more than 150 stocks of some of the largest companies globally, such as Apple, Amazon, Google, and Facebook, among others.
Account Type
Apart from demo accounts, FXPRO offers three types of live accounts: Standard, Raw+, and Elite accounts.
The Standard Account is designed for traders seeking a straightforward and cost-effective trading experience. With a minimum initial deposit of $100. The account offers FX trading with spreads starting from 1.2 pips for major currency pairs like EURUSD, GBPUSD, and USDJPY, with an average spread of 1.5 pips. Gold and Bitcoin trading are also available, with competitive spreads.
The Raw+ Account caters to traders seeking tighter spreads and more transparent pricing. With a minimum initial deposit of $1000. The account offers raw spreads for FX, starting from 0 pips for major currency pairs, with an average spread of 0.2 pips, plus a commission of $3.5 per side. Gold and Bitcoin trading are also available with competitive raw spreads and commissions.
The Elite Account is designed for high-volume traders and requires a minimum initial deposit of $30,000 within two months. Similar to the Raw+ Account, it offers raw spreads for FX, Gold, and Bitcoin trading, with commissions of $3.5 per side. Additionally, traders can benefit from rebates starting from $1.5 per lot traded.
All account types support trade sizes from 0.01 lots, and provides access to the MT4/MT5 platforms with a swap-free option for Islamic accounts.
FXPro offers a free and 180-day life span demo account that enables traders to test their trading strategies and get a feel for the platform's features and functionality without risking any real money. The demo account comes with virtual funds that can be used to trade various financial instruments, including forex, commodities, indices, and shares.
With FXPro's demo account, traders can familiarize themselves with the platform's trading tools and resources, such as the advanced charting package, market news and analysis, and risk management tools. Traders can also practice their trading skills and test out new trading strategies in a risk-free environment.
How to Open an Account?
The process of opening an account with FXPro is a streamlined and uncomplicated endeavor, which aims to provide a smooth onboarding experience for traders.
Step 1: First, you need to visit the broker's website and click on the 'Register' button.
Step 2: Then, you will then be directed to a page where you need to fill out a registration form with your personal information, including your country of residence and email address. You will also need to create a unique password.
Step 3: Once you have submitted your registration form, you will be prompted to verify your email address by clicking on a verification link that will be sent to your inbox. After verifying your email, you can then proceed to complete the verification process by providing additional information, such as your ID and proof of address.
Step 4: Once your account has been verified, you can then proceed to fund it with the minimum required deposit. FXPro offers a variety of payment methods, including bank transfers, credit/debit cards, and e-wallets. You can choose the payment method that best suits your needs and preferences.
Step 5: After funding your account, you can then start trading by logging into the FXPro trading platform with your account credentials. If you are new to trading, it is recommended that you first practice on the demo account to get a feel of how the platform works before risking your real money.
Leverage
FXPro offers competitive leverage ratios for different trading instruments to help traders maximize their trading potential. For forex majors, forex minors, spot metals (Gold, Silver, Platinum and Palladium), spot major indices, spot energies, and futures energies, the broker offers a high leverage of up to 1:200. For other instruments such as crypto and shares, the leverage ranges from 1:20 to 1:50, depending on the specific asset class. You can find more specific info in the screenshot below.
Spreads & Commissions
FXPRO offers variable spreads that can vary depending on the market conditions and the asset being traded. The spreads offered by FXPRO may appear to be on the higher side, with the EUR/USD pair starting from 1.5 pips, GBP/USD from 2.1 pips, WTI spreads from 60 pips, Gold from 36 pips, and BTC from 6251 pips.
In terms of commissions, FXPRO offers commission-free trading for most instruments, except for share CFDs, which are subject to a commission of 0.05% of the transaction value.
Trading Platform
FXPro provides traders with a variety of robust and user-friendly trading platforms to choose from, including the popular MetaTrader 4 and 5 (MT4 and MT5) platforms, as well as their proprietary FXPro Trading Platform and the advanced cTrader platform.
MT4 and MT5 are widely recognized as the industry standard in forex trading platforms, providing traders with a comprehensive range of analytical tools, customizable indicators, and automated trading capabilities. FXPro's proprietary trading platform, on the other hand, offers a user-friendly interface with advanced charting capabilities and built-in risk management tools.
For traders looking for a more advanced trading experience, cTrader offers a range of sophisticated features such as level 2 pricing, advanced order types, and algorithmic trading capabilities.
Deposit & Withdrawal
The minimum deposit is $100. Clients can deposit funds through various methods, including bank transfer, broker-to-broker transfer, VISA, MasterCard, Maestro, and MasterCard. Withdrawals can also be made using the same methods.
It is important to note that while the broker does not charge deposit and withdrawal fees, bank transfers may attract fees from the bank or intermediary bank, and credit card withdrawals may incur a 2% fee on the withdrawal amount.
FXPro Financial Services Ltd accepts the payment methods mentioned previously, such as Bank Transfer, Broker to Broker, VISA, MasterCard, and Maestro. Additionally, it also supports e-wallet payment methods including PayPal, Neteller, and Skrill.
Customer Support
FXPRO offers 24/5 customer support to via live chat, call back form, phone, email: info@fxpro.com, WhatsApp, Telegram, Messenger.
In addition to the above channels, FXPRO has an extensive FAQ section on its website that covers a wide range of topics related to trading, account management, and other services provided by the broker. Clients can access the FAQ section by clicking on the “FAQ & User support” tab on the broker's website.
Educational Resources
FXPro provides clients with a knowledge hub for basic and advanced education, fundamental and technical analysis, and more. So wether you are a beginner or a professional trader, you can learn here.
FAQs
Is FXPro a regulated broker?
Yes, FXPro is a regulated broker. It is authorized and regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Comisión Nacional del Mercado de valores (CNMV) in Spain.
What trading instruments are available at FXPro?
FXPro offers forex, commodities, indices, futures, and shares. Clients can trade over 70 currency pairs, as well as gold, silver, crude oil, and other popular commodities.
Does FXPro offer a demo account?
Yes, FXPro offers a demo account that allows clients to practice trading in a risk-free environment with virtual funds.
What payment methods does FXPro accept?
FXPro accepts bank transfers, credit/debit cards, and e-wallets such as PayPal, Skrill, and Neteller.
What trading platforms does FXPro offer?
FXPro offers FxPro Mobile App, MT5, MT4, cTrader, FxPro WebTrader.
Risk Warning
Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.
2024-08-27 18:02
2024-07-14 22:16
